BCG-中国银行数字化转型机会研究-20150214.pptx

1、China Digital Opportunities February 2015 ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 1 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.craigslist Telephony Mail Photography Music Newspapers Television Cinema craigslist Digital is creating disru

2、ption across industries ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 2 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.Unmet needs of 200mn digital long tail”are looking for solutions 13.8mn 28.9mn 21mn 47.2mn 64.9mn 28.6mn 130mn 76.5mn 31.6mn 42

3、.9mn 110mn 20.7mn Customer potential(based on HH monthly income)RMB 6k-10k RMB 4k-6k RMB 4k RMB 10k Internet user w/o online banking account Inactive online banking user Active online banking user(used online banking over the past 3 months)Acceptance to e-channel Segment China Internet users along t

4、wo dimensions(2013)26th Feb.2014 User pool of Yuebao exceeds 81mn 2nd July,2013(the 18th day since its commencement）User pool of Yuebao exceeds 2.5mn 15th Jan.2014 User pool of Yuebao exceeds 49mn 6th Feb.2014 User pool of Yuebao exceeds 61mn 14th Nov.2013 User pool of Yuebao exceeds 29mn 19th June,

5、2014(one year)User pool of Yuebao exceeds 100mn Average balance of Yuebao user:RMB 5k Customers focused on by Conventional FIs digital finance customers Source:BCG Chinas Digital Generations 3.0:The Online Empire;online lit search;BCG calculation and analysis ChinaDigitalOpportunities-04Feb15(circul

6、ate)v2.pptx 3 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.12 themes of Chinese Consumers with numerous pain points Garment Housing Entertainment Family Death Disease treatment Society Transport Entrepreneurship Elder care Birth Catering Source:BCG C

7、hinas Digital Generations 3.0:The Online Empire;online lit search;BCG calculation and analysis ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 4 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.Currently 10 business models trying to succeed in Digita

8、l Note:In payment module,UnionPay is clustered as“traditional FIs rather than listed as a separate cluster Source:company website;BCG analysis Key participants Traditional FIs E-commerce Start-ups Traditional Internet players Top 3 operators P2P P2P Online payment “Baifa”“Xianjinbao”Traditional prod

9、ucts 1 2 4 5 6 7 8 9 Online banking,mobile banking equity transaction Innovative product（e-account,deposit,WM and funds)Traditional financial products-Verticalsales b b “Yuebao”3 Online credit“BOC Easy Pay”Credit investigation Credit investigation 10 Online insurance Direct bank Product/channel Risk

10、 control Platform Key roles of Internet Vertical search Crowd funding ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 5 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.Example:Direct Bank booming with significant potential Broad Savings+Investment.+

11、loan .+non-FS Product portfolio Broad Narrow ICBC plans to launch Direct Banking by year end Source:case experience,lit search,bank website and customer service,BCG analysis,BCG Chinas Digital Generations 3.0:Customer Reach Narrow ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 6 Draftfor discus

12、sion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.Traditional banks are actively competing in direct banking 7 banks recently set up direct banking,while existing players reinforce product devt New entrants into direct banking business New initiatives from existing play

13、ers A total of 16 banks have set up direct banking since Feb2014 New bank entrants which launched direct banking after Sep2014 Fiercer competition poses challenge for BoN on digital banking business New entrants All direct banking players in China Competitive landscape Existing players New initiativ

14、es CMBC Focus on customer expansion and customer loyalty 1.3 Mn customers,AUM RMB24 Bn as of Dec2014 Pure online consumer finance product with Q from Jan.2015 (salary loan WIP)Xiaoma Bank Focus on profit generating products Profit earning products planned in 2015:Partial stock fund,note financing pr

15、oduct,a/c receivable securitization Focus on expanding product lines Plan to launch crowd-funding,insurance,credit and P2P products in 2015 CIB ChinaDigitalOpportunities-04Feb15(circulate)v2.pptx 7 Draftfor discussion only Copyright 2014 by The Boston Consulting Group,Inc.All rights reserved.5 priva

16、tely-owned banks also about to launch their digital businesses with innovative models Qianhai Webank(前海微众银行前海微众银行)Tianjin Jincheng Bank(天津金城银行天津金城银行)Shanghai Huarui Bank(华瑞银行华瑞银行)Wenzhou Civil and Commercial Bank(温州民商银行温州民商银行)Features:individual deposit and small loan (RMB 1 Mn)-个存小贷 Key Stakeholder:Tencent 30%Registered cap:RMB 3Bn Approved on 25 July 2014,1st loan issued ini Jan 2015 5 privately-owned banks approved since July 2014 Features:corporate deposit and loan-公存公贷 Key Stakeholder:Huabe